LOCAL DEVELOPERS SM Prime Holdings, Inc. and Ayala Land, Inc. bagged awards at a regional awarding ceremony, besting other firms in Asia-Pacific in categories such as corporate governance and performance reporting.

The Sy-led firm won the Emerging Markets Highly Commended award, as well as merit awards for emerging markets in the Valuation and Corporate Governance categories all conferred at the Asia-Pacific Real Estate Association (APREA) Best Practices Awards in Singapore last Oct. 11, a disclosure to the local bourse yesterday showed. 

SM Prime also won the Country Award-Best Submission from the Philippines.

Ayala Land for its part won the Emerging Markets Portfolio Performance Reporting award in the same contest according to information on the APREA Web site. 

The awards will go a long way in addressing fragmentation issues in the Asian real estate market, APREA chief executive officer Peter Mitchell said in a press statement released yesterday. He also said the awards will influence greater harmonization in standards and industry practices. — Franz Jonathan G. de la Fuente